Grid operators, utilities and oil & gas majors invest in hydrogen

Grid operators, utilities and oil & gas majors invest in hydrogen

(MENAFN- ING) Hydrogen could be an important future energy source, but it can only thrive with the support of good infrastructure. A European hydrogen backbone requires €43-81bn investment. European transition system operators have been taking the lead, followed by European utilities that are allocating 3%-6% of total investment to hydrogen Shutterstock Share The establishment of a hydrogen market will not be possible without a network infrastructure in place. Isolated national hydrogen grids will not be viable in the long term because hydrogen procurement will need to be established on at least a European-wide basis, if not even more broadly international than that. Overall, the reconversion of existing natural gas networks, the building of new pipelines, storage capacities and international interconnections, implies the need for substantial investments. In this article, we look at current investment plans by grid operators, utilities and the oil and gas majors. Published in April 2021, the report"European Hydrogen Backbone", also called the EHB initiative, offers the vision of 23 European gas infrastructure companies on the future of hydrogen grids. The report was first published in 2020 and included 11 players. The latest version provides analysts and specialists with a vision for the potential development of a